The HOME Program: What Are Your Community's Most Urgent Affordable Housing Needs?
HUD-1746-CPD, October 1998
This publication was designed to provide units of local government and affordable housing providers with a brief overview of the HOME program, its role and purpose.
The brochure provides a step-by-step description of how HOME funds are allocated, how local governments can apply for HOME funds, and the regulations and responsibilities governing how HOME funds can be used.
The process begins when a State, unit of local government or multi-jurisdiction consortium qualifies for a minimum direct allocation of HOME funds based on a formula established by Congress.
Jurisdictions with the capacity and desire to participate in the program prepare an annual Consolidated Plan containing specific information on how they will use their HOME funds.
Once the annual plan is approved by HUD, the participating jurisdiction can begin to commit HOME funds to activities that will improve housing opportunities for its low-income residents.
The brochure discusses the various ways in which communities can make use of HOME to fund tenant-based rental assistance, rental housing and homeownership housing activities.
The income targeting requirements for each of these activities are also outlined.
Finally, the brochure discusses the match requirements of the program, as well as the importance of building local partnerships.
A critical component to this process is reflected in the HOME Rule, which requires that at least 15% of a participating jurisdiction's (PJ's) annual HOME allocation for housing that will be owned, developed or sponsored by community housing development organizations (CHDOs).